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<p>&nbsp;</p>

</td><td valign="top" width="24"></td><!--msnavigation--><td valign="top">
<p class="MsoNormal" style="text-align: justify; text-autospace: none">
<span style="font-family:Arial">> Start with what is right rather than what is 
acceptable.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.5pt; text-autospace: none; margin-left: .25pt">
<span style="font-family:Arial">> The best way to predict the future is to 
create it.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: .25pt">
<span style="font-family:Arial">> Unless commitment is made, there are only 
promises and hopes but no plans,</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: .5pt">
<span style="font-family:Arial">> Plans are only good intentions unless they 
immediately degenerate into hard work.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: .25pt">
<span style="font-family:Arial">&gt; What you have to do and the way you have to 
do it is incredibly simple. Whether you are willing to do it, that&#39;s another 
matter.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 14.75pt; text-autospace: none">
<span style="font-family:
Arial">> People who don&#39;t take risks generally make about two big mistakes a 
year. People who do take risks generally make about two big mistakes a year.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 18.0pt; text-autospace: none; margin-left: 1.0pt">
<span style="font-family:Arial">> Follow effective action with quiet 
reflection.&nbsp; From the quiet reflection will come even more effective action.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 14.75pt; text-autospace: none; margin-left: .25pt">
<span style="font-family:Arial">&gt; &nbsp;Concentration is the key to economic 
results. No other principle of effectiveness is violated as constantly today as 
the basic principle of concentration.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 18.0pt; text-autospace: none; margin-left: .75pt">
<span style="font-family:Arial">> Until we can manage TIME, we can manage 
nothing else.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: 1.5pt">
<span style="font-family:Arial">> Efficiency is doing better what is already 
being done. There is nothing so useless as doing efficiently that which should 
not be done at all.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: 1.75pt">
<span style="font-family:Arial">> Efficiency is doing things right; 
effectiveness is doing the right things.&nbsp; Management is doing things right; 
leadership is doing the right things.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.75pt; text-autospace: none; margin-left: 1.5pt">
<span style="font-family:Arial">> Effective leadership is not about making 
speeches or being liked; leadership is defined by results not attributes.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 18.0pt; text-autospace: none; margin-left: 2.5pt">
<span style="font-family:Arial">> The productivity of work is not the 
responsibility of the worker but of the manager.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: 2.75pt">
<span style="font-family:Arial">> There are an enormous number of managers who 
have retired on the job.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 17.25pt; text-autospace: none; margin-left: 2.75pt">
<span style="font-family:Arial">&gt; Management by objective works - if you know the 
objectives. Ninety percent of the time you don&#39;t.</span></p>
<p class="MsoNormal" style="text-align: justify; line-height: 14.75pt; text-autospace: none; margin-left: 3.25pt">
<span style="font-family:Arial">&gt; Management means, in the last analysis, the 
substitution of thought for brawn and muscle, of knowledge for folkways and 
superstition and of cooperation for force.&nbsp; It means the substitution of 
responsibility for obedience to rank and of authority of performance for the 
authority of rank.</span></p>
<p class="MsoNormal" style="text-align:justify">&nbsp;<span style="font-family:Arial">&gt; 
Rank does not confer privilege or give power. It imposes responsibility.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; The sales manager becomes a marketing vice president but a grave digger is 
still a grave digger even when he is called a mortician - only the price of 
burial goes up.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Accept the fact that we have to treat almost anybody as a volunteer.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Company cultures are like country cultures. Never try to change one. Try, 
instead, to work with what you&#39;ve got.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Innovation is the specific instrument of entrepreneurship. Innovation is the 
act that endows resources with a new capacity to create wealth.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; No institution can possibly survive if it needs geniuses or supermen to 
manage it. It must be organized in such a way as to be able to get along under a 
leadership composed of average human beings.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Quality in a product or service is not what the supplier puts in. It is what 
the customer gets out and is willing to pay for. A product is not quality 
because it is hard to make and costs a lot of money, as manufacturers typically 
believe. This is incompetence. Customers pay only for what is of use to them and 
gives them value. Nothing else constitutes quality.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; Teaching is the only major occupation of man for which we have not yet 
developed tools that make an average person capable of competence and 
performance.&nbsp; In teaching we rely on the &#39;naturals&#39;, the ones who somehow know 
how to teach.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; The great mystery isn&#39;t that people do things badly but that they 
occasionally do a few things well. The only thing that is universal is 
incompetence. Strength is always specific! Nobody ever commented, for example, 
that the great violinist Jascha Heifetz probably couldn&#39;t play the trumpet very 
well.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; The most important and indeed the truly unique, contribution of management in 
the 20<sup>th</sup> century was the fifty-fold increase in the productivity of 
the MANUAL WORKER in manufacturing. The most important contribution management 
needs to make in the 21st century is similarly to increase the productivity of 
KNOWLEDGE WORK and the KNOWLEDGE WORKER.</span></p>
<p class="MsoNormal" style="text-align:justify"><span style="font-family:Arial">
&gt; The purpose of business is to create and keep a customer.&nbsp; Because its 
purpose is to create customers, each business has two - and only two - basic 
functions: marketing and innovation. Marketing and innovation produce results; 
all the rest are &#39;costs&#39;.</span></p>

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